Esco Technologies (ESE -7.8%) cuts its FY 2012 earnings guidance, prompting Needham to cut the...

|By:, SA News Editor

Esco Technologies (ESE -7.8%) cuts its FY 2012 earnings guidance, prompting Needham to cut the stock to Hold from Buy. While Needham still views the maker of engineered filtration products as a solid company with a healthy backlog, "the disappointing results and guidance have inherently forced our model lower and added risk to the story."